How Instagram Is Driving Millennials Towards Homeownership

Are social media platforms like Instagram pushing millennials into buying their first homes? According to a recent report from Bank of America, it’s definitely a motivating factor. 21% of respondents indicate that they want to buy due to fear of missing out. Another 27% see pictures of homes posted on Instagram and realize that if their peers can buy homes, they can do so as well. Below are some insights into how all of this plays out and how buyers and sellers can benefit.

Property related hashtags are on the rise

There are more than 30 property relevant hashtags that realtors, decorators, homebuyers and others use on Instagram and other platforms. These make it easy to find real estate related posts and to showcase properties to those who are interested. Some of the more popular include:

#Realestate

#Property or #Properties

#Homeforsale

#Openhouse

#Buymyhouse

There are also a slew of very popular hashtags that are related to interior design. These include:

#Housetour

#Jungalowstyle

#Currentdesignsituation

#Dreamkitchen

#Smallspacesquad

Hashtags in both of these categories can be used to tag photos of real estate for sale. Lookers can search for these to find homes that interest them and to get inspirational design ideas.

Everyone’s a photographer and that’s a good thing

A visual platform like Instagram is driven by great videos and photographs. Not long ago, photography was something that could only be pursued in any serious way by people who had expensive equipment and invested lots of time honing their skills. Now, nearly anyone can take some amazing pictures of homes, landscapes and interiors.

Instead of having just a few shots to show on Zillow, sellers can showcase each room using different lighting and filters, often with shots taken right from their phones. Buyers can take virtual tours of homes, even watch live video of properties that interest them.

Instagram can open up millennials to home ownership possibilities

There are many reasons that millennials avoid home ownership. They feel as if they can’t afford the cost, or that they can’t qualify for a mortgage. Some are overwhelmed with the responsibilities of paying real estate taxes and maintaining a home. Others simply find it impractical to purchase a home when they aren’t married or planning a family. Then there’s the matter of size. For many, homes are large and impractical. Finally, the entire process of purchasing a home is really intimidating.

Since Instagram isn’t just about selling products, but also about lifestyle, it’s a great platform for educating millennials about their options. The ‘small’ or ‘tiny home’ movement has a huge presence on Instagram, educating millennials and others about their choices when it comes to buying and living in micro spaces. In addition to this, realtors and others can use the platform to drive potential home buyers to their websites to educate them on home ownership options such as leasing to own. They can also educate millennials on the nuts and bolts of real estate sales, including property conveyance.

Millennials are simply getting older and Instagram is reflecting a natural progression

Instagram isn’t just an influencer of millennials. It also reflects their growth and changing priorities. Millennials are often portrayed as directionless college students and twenty somethings. In reality, millennials are between 22 and 37 years old. Most are well-entrenched in their careers. Many have families.

Home ownership is simply the next logical step for them. The only difference is that while their parents spent Sundays going to open houses and bought home decorating magazines, they scroll through Instagram to look out real estate and get inspired.

Real estate brands are more present on Instagram now than ever

All of this leads to one thing. Millennials are using Instagram to look for homes, to get decorating ideas and to engage with one another on the topic of home ownership. People in the know at real estate agencies, construction companies, home decor firms, etc. realize this. In response, they are meeting millennials where they are, by creating a presence on Instagram and other visual platforms.

Instagram has created a great social platform both for those interested in home ownership and those who make money from the process. It’s a great place to showcase homes for sale, collect decorating ideas and learn more about the ins and outs of homeownership.